v3.26.3
Leases
12 Months Ended
Jun. 30, 2026
Leases  
Leases
12.
LEASES

The Company has one immaterial operating lease for office space. In October 2025 the lease was amended and in May 2026 the Company exercised an option to shorten the lease term to January 31, 2027. These lease remeasurements were made in accordance with ASC 842.

 

The Company incurred lease costs as follows:

 

For the year ended June 30,

 

 

2026

 

 

2025

 

Fixed rent expense

 

$

184

 

 

$

94

 

Variable rent expense

 

 

15

 

 

 

13

 

Short term lease cost

 

 

11

 

 

 

10

 

Sublease income

 

 

(59

)

 

 

(41

)

Net lease cost – other operating expense

 

$

151

 

 

$

76

 

 

The maturity of lease liabilities is as follows at June 30, 2026:

 

 

Fiscal Year Lease Maturities

 

2027

 

$

96

 

Less amount of payments representing interest

 

 

(2

)

Lease liability

 

$

94